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Data breaches to reach costs of over USD 2 trillion by 2019

Thursday 14 May 2015 10:08 CET | News

The rapid digitisation of consumers’ lives will increase the cost of data breaches to $2.1 trillion globally by 2019, a recent study shows.

According to a research conducted by Juniper Research, the majority of these breaches will come from existing IT and network infrastructure. While new threats targeting mobile devices and the IoT (Internet of Things) are being reported at an increasing rate, the number of infected devices is minimal in comparison to more traditional computing devices.

The report also highlights the increasing professionalism of cybercrime, with the emergence of cybercrime products (i.e. sale of malware creation software) over the past year, as well as the decline in casual activist hacks. Hacktivism has become more successful and less prolific.

Findings indicate that nearly 60% of anticipated data breaches worldwide in 2015 will occur in North America, but this proportion will decrease over time as other countries become both richer and more digitised. The average cost of a data breach in 2020 will exceed USD 150 million by 2020, as more business infrastructure gets connected.


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Keywords: data breaches, online security, web fraud, biometrics, online authentication, digital identity
Categories: Fraud & Financial Crime
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Countries: World
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Fraud & Financial Crime






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